EGA advances plans to build new US aluminum plant
Abu Dhabi, UAE -- Emirates Global Aluminum, the largest ‘premium aluminum’ producer in the world, today announced the progression of...
Business
World Bank announces plans to restart Syria operations
Washington, United States -- The World Bank on Friday said it would restart operation in Syria following a 14-year pause,...
Geostrategy
Business
Saudi Arabia launches second phase of Visiting Investor Visa
RIYADH, SAUDI ARABIA – The Kingdom’s ministry of investment and ministry of foreign affairs launched the second phase of issuing...
- This service is offered to foreign investors as part of the Kingdom’s efforts to boost investment, consistent with Saudi Vision 2030.
- The booking platform is affiliated with the Ministry of Investment “Invest Saudi,” through which the application will be processed.
Business
Saudi Coffee Company launches its first model farm in Jazan
Riyadh, Saudi Arabia - Saudi Coffee Company, a wholly owned subsidiary of the Kingdom’s Public Investment Fund, on Sunday announced...
- The farm is a cornerstone of Saudi Coffee Company’s plans to increase the coffee production capacity from 300 to 2,500 tons annually in 2023
- Over the next ten years, the Saudi Coffee Company intends to invest nearly SAR 1.2 billion ($320 million) to meet its export goals
Economy
Russia to continue voluntary oil export cuts by 300,000 barrels a day until yearend
Moscow, Russia - Russia will continue additional voluntary oil export cuts by 300,000 barrels a day until the end of...
- Additional cuts are geared to enhance OPEC+ measures to maintain stability and balance on oil markets
- Russia began to voluntarily cut oil production by 500,000 barrels a day from February’s average back in March
Business
UAE ministry issues guidebooks on Emiratization for employers, employees
DUBAI, UAE - The Ministry of Human Resources and Emiratization (MoHRE) has launched awareness guidebooks for private sector companies and...
- The awareness guidebook for Emiratis working in the private sector covers 11 topics
- The awareness guidebook for the private sector companies covers nine topics.
Geostrategy
Israel ‘significantly refined’ battle plans against Hamas after talks with US
Tel Aviv, Israel - A senior Biden administration official revealed that Israel has made significant adjustments to its military strategy...
- The senior official, who spoke on the condition of anonymity, acknowledged that Israel had reworked its initial military plan
- The senior official asserted that advocating for a ceasefire might not be the most suitable policy for the United States to pursue at this stage
Kuwait City is the Middle East’s most polluted, Baghdad is next
Dubai, UAE - As New Delhi once again topped the list of the world’s most polluted cities, across the Middle...
- Kuwait City recorded an Air Quality Index (AQI) of 165, surpassing all other Mideast cities
- New Delhi again topped a real-time list of the world's most polluted cities
Geostrategy
US uses unarmed Pentagon assets to locate hostages in Gaza: US official
Washington, United States - The US is using unarmed assets of the Department of Defense to help locate hostages held...
- The two Americans that were able to get out of Gaza a couple of weeks ago proved it was possible, the official went on to say
- The situation in the Middle East sharply escalated following an incursion of Hamas militants from the Gaza Strip into Israel on October 7
Business
Saudi Arabian ministry issues 174 industrial licenses
RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Industry and Mineral Resources announced issuing 174 new industrial licenses in September,...
- The total value of the 174 new industrial licenses in September is US$1.4 billion (SAR 5.3 billion).
- A total of 82 factories started production in September, with investments worth US$506 million.
Business
Empower 9M revenue $618m
Firm paid cash dividend of US$115 million.
- For nine months period ending on September 30, 2023, Empower’s revenue and EBITDA grew by 9.5 percent and 7.5 percent respectively.
- On an absolute basis, Empower reported a net profit of US$186 million (AED 685 million) for the nine-month period ending September 2023.
Geostrategy
Hamas ready to swap prisoners with Israel, says official
NEW YORK, US - Hamas is ready for a "complete compromise" deal on the issue of swapping hostages with Israel,...
- The Hamas representative said that the group wants to continue fighting against the occupation.
- The group said that it has the legal right to fight against the occupation under international law.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
EGA advances plans to build new US aluminum plant
Abu Dhabi, UAE -- Emirates Global Aluminum, the largest ‘premium aluminum’ producer in the world, today announced the progression of...
Business
Company News
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Du, Samsung ink agreement
Business
Iran offers no response to Israeli strike, if US-secures Gaza truce: report
The Damascus airstrike targeted the Iranian consulate, resulting in the death of IRGC commander Mohammad Reza Zahedi and several other...
Geostrategy
Red Sea Fund opens applications for production cycle
Riyadh, Saudi Arabia - The prestigious Red Sea Fund has thrown open its doors to filmmakers across Arab and African...
Arts & Culture
UAE cements position as a top global investment hub in 2024
UAE ascends to 8th on Kearney's 2024 Foreign Direct Investment Confidence Index, affirming its appeal as a prime investment haven,...
Economy
Most Read
Business
Air Arabia Egypt marks its first flight to Istanbul
CAIRO, Egypt – Air Arabia Egypt on Sunday commenced its first non-stop flight from Cairo International Airport to Sabiha Gökçen...
- Upon arrival at Istanbul, the flight was greeted with a water cannon salute and a welcome ceremony.
- The newly added route will connect both cities with a frequency of three weekly flights.
Business
Jordanian industrialists call for export diversification
AMMAN, JORDAN – Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such...
- They called for expanding outreach to foreign markets, fostering collaboration between the government and the industrial sector.
- Jordan has taken several measures to stimulate domestic exports, improve market access and maximize the benefits of existing free trade agreements.
Business
UAE stocks see US$1.7bn inflow, IHC, Emaar lead
ABU DHABI, UAE- The UAE stock markets attracted liquidity of nearly AED6.5 billion during the week's trading, with the focus...
- The weekly liquidity in the Abu Dhabi market was US$1.2 billion (AED4.57 billion).
- The weekly liquidity in the in the Dubai market was US$517 million (AED1.9 billion).